Investing.com – Manufacturing activity in Switzerland rose more-than-expected in December, returning to expansionary territory after contracting for three consecutive months, industry data showed on Tuesday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index rose by 5.9 points to a seasonally adjusted 50.7 in December from a reading of 44.8 in November.
Analysts had expected the index to ease up by 0.6 points to 45.4.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc remained higher against the U.S. dollar, with USD/CHF shedding 0.21% to trade at 0.9377.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index rose by 5.9 points to a seasonally adjusted 50.7 in December from a reading of 44.8 in November.
Analysts had expected the index to ease up by 0.6 points to 45.4.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc remained higher against the U.S. dollar, with USD/CHF shedding 0.21% to trade at 0.9377.